Crashy I think the issue is that hbbehrendorff has never owned any property. He spends 10 hours a day reading the media and has no time for fickle things such as going out and…[Read more]

I’d suggest either Springwood or Rochedale South personally.

We bought our PPOR in Rochedale South in Nov 04 (first home) and have seen about 20% growth since we bought it.

From a living perspective – we’ve found people in the area to be friendlier than other places. Springwood which is a short walk away is becoming quite a…[Read more]

The sales pitch in the last session could’ve been skipped as people were…[Read more]

The property has a granny flat on it as well as a 3 bedroom house, but the granny flat has no plumbing and the ceiling is only 2.2m The deal could potentially be cf+ but we would need to do a fair bit of work with the…[Read more]

We’re in Brisbane so the zoning codes may be different. The block is zoned Res A, which doesn’t mean a whole lot to me. I will ring up Bris Council and ask for a town planner. There are other townhouses in similar locations on the same street, though the blocks are slightly larger. The block is larger than the 1200 i mentioned as it…[Read more]

We’re in Brisbane so the zoning codes may be different. The block is zoned Res A, which doesn’t mean a whole lot to me. I will ring up Bris Council and ask for a town planner. There are other townhouses in similar locations on the same street, though the blocks are slightly larger. The block is larger than the 1200 i mentioned as it…[Read more]

Given the current rental market I’m curious as to why the 3 x 1 year lease, rather than 6 x 6 month to account for the rising rental investment market. 2 small rises in rent over 12 months is more manageble for a tenant that 1 big one after 12 months, and you have…[Read more]

I’m also trying to find a good painter to paint the outside of the house. The paint is in poor condition and needs to be stripped and redone, though i’d prefer to get someone else to do that than try it myself as a newbie.

I’m also keen to find any good…[Read more]

We were in a similar position; buying our PPOR in Nov 04 though for slightly less and a slighly smaller loan, we have similar savings, though in shares, and a similar joint salary. We are now also looking for our first IP.

The best advice I can give that has made all the difference for us, is pay as much as you can on your homeloan and,…[Read more]

What state is the property?

You can list it on owner.com.au and sell it privately. I would only do this if you are confident in your sales skills as the money you might save not paying a REA may be lost in not getting as much exposure to the market and getting less for it.

Thanks.

Is this one near Brisbane? If so, you’ll find that its leased against Brisbane City Council tenancy laws, which causes insurance issues and other problems.

What state was the recent purchase and is it near a capital city or developing town?

I too have considered looking at the investors club to source property but there are a few things to keep in mind. I haven’t got any first hand experience, only some factual information I’ve been able to gather.

My concern is that they are a club that has a private enterprise at its core. A business which has relationships with…[Read more]

It’s more clear with both your and Bo’s explanation.

I guess my next question is, how do you incorporate stamp duty and other purchasing costs into the equation. Is there a tax benefit on them for the first year or no benefit at all?

I used the ATO basic calc and it said that Tax on $75000 would be $19800? Therefore $2856.42 return.

Thanks for all your help.

So does that mean I can claim back 30% of 50% of the $13602 for my wife, and 42% of 50% of $13602? Alternatively 42% if it was entirely in my name and therefore get back $5712.84?

Sorry for all the questions. I just need to be sure that we can actually afford an IP.

So if my income is $75,000 for the year and my wife’s is $30,000 and our investment property was negatively geared, earning $15072 and interest on the loan was $25374, and costs on the IP was $3300; how do I calculate what can we claim back? All the income minus all the costs, then work out the tax paid, and subtract tax owed?

I’ve…[Read more]

I’m after a cashflow (buy, rent, hold) calculator. If you could post or message me the link that would be great.

Thanks

Chris

IMO no property worth spending money on is anything close to that low. Prices like that are from the early 90s at best, though setting the time machine to the 80’s would be better. I’m not an advocate for buying in backwater towns (high risk). I would prefer to take $40K and pick a young stock with some steady +ve growth within the material’s…[Read more]

I work for Telstra in Business Sales and regularly come across customer’s with similar issues. A letter to the Ombudsman wouldn’t be a worthy investment of your time. Although Telstra has been a semi-privatised company, it has only been the last 12 months that we’ve operated like we have shareholders. It can be quite difficult for a company…[Read more]

The target tenant would probably be students or people wanting to share with others. It’s not in a yuppie area but is quite close to uni’s and tafe, about 20 mins to the CBD, 5 mins to an industrial estate, and 10 mins to a westfield. The area is quite mixed, with some young families, retirees and share accomodation.

I’m…[Read more]

I’m also in Bris so I guess that changes what I was planning. Is there a way to get the granny flat assessed as a separate property?

It sounds like you’ve worked out a good strategy.

Sounds like you’re on the right track. My only concern is that 100K sitting in the bank earning bugger all. A conservative managed fund would’ve returned around 10% in the last 12 months. Coupled with a margin loan you could be seeing quite a return on that 100K. Even if you hedged your investment and put 50% into a managed fund;…[Read more]